iTunes TO OUTLOOK365 synchronization failure

We have installed a new Outlook365 on a PC, with its own new Contacts folder, to which we copied the contact vcards. Itunes (both recent and newest version) is not finding the path to this new Contacts folder, so it doesn't synchronize anymore Contacts to/from the iPhone as it used to in the past with Outlook 2016 (see picture below, no path). Kindly tell us how to re-establish the path between the iPhone and the new Contacts folder, via iTunes, so that the contact names/info can be synchronized.